The Daily: Bank of America’s $6T stablecoin warning, BitMine’s $200M MrBeast investment, X’s InfoFi policy change hits Kaito token, and more

The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

Happy Thursday! There are early signs that bitcoin may be starting to decouple from equities, rising alongside the VIX as stocks sell off — a potential signal that traders are viewing BTC as a hedge against policy risk, CF Benchmarks Head of Research Gabe Selby told The Block.

In today’s newsletter, Bank of America warns up to $6 trillion in deposits could shift to stablecoins, BitMine invests $200 million in MrBeast’s firm, Bitcoin ETFs hit a $1.7 billion three-day inflow streak, and more.

Meanwhile, the Senate Banking Committee postponed its markup after Coinbase pulled support for the crypto market structure legislation — here’s what happened overnight.

P.S. Don’t forget to check out The Funding, a biweekly rundown of crypto VC trends. It’s a great read — and just like The Daily, it’s free to subscribe!

Bank of America CEO warns $6 trillion in deposits could shift to stablecoins if allowed to pay interest

Bank of America CEO Brian Moynihan warned that up to $6 trillion, or roughly a third of U.S. commerical bank deposits, could migrate into stablecoins if Congress allows them to pay interest.

• In a Q&A session following the bank’s earnings call on Wednesday, Moynihan said U.S. Treasury Department-backed studies show interest-bearing stablecoins pose a material risk to banks’ deposit bases and lending capacity.
• Moynihan argued stablecoins function more like money market mutual funds, parking reserves in Treasurys rather than recycling deposits into household and business loans.
• A Senate compromise could ban passive stablecoin interest while allowing activity-based rewards tied to staking, liquidity provision, or collateral posting.
• The latest draft bill, released by Senate Banking Committee Chair Tim Scott last week, has drawn heavy lobbying, more than 70 amendments, and fresh concerns over expanded financial surveillance powers.
• Industry support fractured after Coinbase CEO Brian Armstrong said the crypto firm could not back the bill, with Scott later postponing a markup that had been scheduled for Thursday.

Ethereum treasury firm BitMine invests $200 million in MrBeast’s Beast Industries

BitMine Immersion Technologies agreed to invest $200 million in Beast Industries, linking crypto’s largest Ethereum treasury company with the world’s most-followed creator platform.

• The equity deal ties BitMine to the 460 million–subscriber ecosystem of YouTube creator Jimmy Donaldson, better known as MrBeast, which spans media, consumer brands, and commerce.
• BitMine Chairman Tom Lee framed the investment as a strategic bet on Gen Z and Gen Alpha reach, extending the firm’s Ethereum thesis beyond financial markets.
• Beast Industries CEO Jeff Housenbold said the capital will fund growth initiatives and support the exploration of DeFi integrations, with the transaction expected to close around Jan. 19.

Bitcoin ETF inflows reach $1.7 billion over three-day streak

U.S. spot Bitcoin ETFs pulled in $843.6 million on Wednesday, lifting the three-day inflow streak to $1.7 billion and marking the strongest daily intake since Oct. 7.

• BlackRock’s IBIT led flows with $648.4 million, while Fidelity’s FBTC added $125.4 million as eight funds posted net inflows.
• LVRG Research director Nick Ruck said the surge signals renewed institutional demand following year-end caution and de-risking.
• Ethereum, Solana, and XRP ETFs also logged inflows of $175 million, $23.6 million, and $10.6 million, respectively, reinforcing Kronos Research CIO Vincent Liu’s view that sustained ETF demand creates a structural tailwind for crypto prices.

JPMorgan expects crypto inflows to rise further in 2026 after record $130 billion in 2025

JPMorgan expects crypto inflows to rise further in 2026 after reaching a record of nearly $130 billion in 2025, with institutions driving the next leg of growth.

• Analysts led by Nikolaos Panigirtzoglou said clearer U.S. regulation could unlock fresh institutional activity across ETFs, VC, M&A, and IPOs.
• Bitcoin and Ethereum ETFs alongside digital asset treasury buyers fueled most 2025 inflows, while CME futures activity pointed to weaker institutional participation compared to 2024, they noted.
• The analysts added that crypto de-risking appears to be easing, setting the stage for a more institution-led inflow cycle in 2026 rather than one driven by retail or treasury strategies.

Kaito token plummets after X revises API policies to ban InfoFi crypto projects

X has revoked API access for InfoFi apps that reward users for posting, with product lead Nikita Bier blaming a surge in AI slop and reply spam for the decision.

• Kaito’s token slid roughly 15% following the policy update on Thursday, highlighting the market impact of X’s crackdown on permissionless incentive-driven posting.
• Kaito founder Yu Hu said the project will sunset Yaps and incentivized leaderboards to launch Kaito Studio, a tier-based marketing platform aligned with X’s and other platforms’ policies.

In the next 24 hours

• Bank of England Governor Andrew Bailey will speak at 10 a.m. ET on Friday. U.S. FOMC member Michelle Bowman follows at 4 p.m.
• Arbitrum is among the crypto projects set for token unlocks.
• CfC St. Moritz 2026 concludes in the Swiss Alps.

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